Senior citizens just want to spend spend spend

The UK’s over-50s have £267bn of spending power, according to a new report.

Market analysts Datamonitor found that the average 50 to 64-year-old had almost £16,000 worth of disposable income last year – the highest in Europe.

Over-65s had less, at about £10,550, it said.

Many advertisers are ignoring the group it calls ‘seniors’, the report claims.

Danielle Rebelo, consumer markets analyst at Datamonitor, said: “The changing senior group has resulted in a generation that desires novel experiences, has the financial circumstances to trade up to higher quality products and values convenience.”

There were 20 million over-50s in the UK last year – making up a third of the population, according to the report.